August 14, 2025 | 12:00am
MANILA, Philippines — AREIT Inc., the nation’s’ first publicly listed actual property funding belief, has appointed Ayala Corp. chief finance officer Alberto de Larrazabal as its new president.
De Larrazabal, whose appointment in AREIT turned efficient yesterday, succeeds Jose Eduardo Quimpo II, who stepped down after a profitable tenure main the corporate by means of accelerated development and diversification.
De Larrazabal will stay as Ayala’s CFO till the top of the yr.
Having held senior finance roles at Globe Telecom, San Miguel Corp. and JP Morgan Hong Kong, De Larrazabal is bringing over 20 years of expertise in company finance, technique and operations to the function.
HIs a long time of expertise is predicted to catapult AREIT’s subsequent chapter of development.
“We’re delighted to welcome Albert as president and CEO of AREIT. His strategic insights, monetary experience and deep understanding of the markets and our ecosystem makes him the best chief to proceed to drive the execution of AREIT’s development and diversification plans,” AREIT chairman Meean Dy mentioned.
AREIT mentioned the management transition underscores the corporate’s dedication to good governance, succession planning and its technique of sustaining best-in-class administration because it continues to pursue accretive development and ship long-term worth to shareholders.
Throughout his tenure as AREIT president and CEO, Quimpo steered the corporate towards continued development, overseeing the rise of its belongings below administration from P87 billion to a projected P138 billion.
AREIT is trying ahead to securing regulatory approvals for its fifth property-for-share swap with its sponsor, Ayala Land Inc. and its subsidiaries, throughout the yr.
The transaction will broaden the corporate’s gross leasable space to 4.3 million sq. meters and belongings below administration to P138 billion.
Within the first half, AREIT’s web revenue excluding the online honest worth change in funding properties climbed by 45 p.c to P4.3 billion.
The corporate posted whole revenues of P5.9 billion throughout the interval, up by 40 p.c year-on-year.
